How to apply for Navient Student Loans

If you’re a student looking for ways to finance your college education, Navient Student Loans is a highly recommended option. With over 10 million clients across the United States, Navient is one of the largest student loan servicers in the country.

Here’s everything you need to know about Navient Student Loans, including eligibility requirements and how to apply.

Who is Eligible for Navient Student Loans?

To apply for Navient Student Loans, you must meet the following requirements:

• Be a U.S. citizen or a permanent resident.
• Be enrolled at least half-time in a degree-granting program at an eligible institution.
• Have a good academic history, as defined by your school.
• You must have a creditworthy co-signer or have sufficient income and credit history to qualify on your own.

How to Apply Online for Navient Student Loans

Applying for Navient Student Loans is a simple process that can be completed online. You can expect to receive an answer within minutes. To apply, you will need to provide the following information:

• Personal information, including your name, address, and Social Security number.
• School information, including the name of your school and your program of study.
• Financial information, including your income and expenses, and the amount of money you need to borrow.
• Your co-signer’s information, if applicable.

Once you have submitted your application, Navient Student Loans will review your credit history and financial information to determine your eligibility for a loan. If approved, you will receive a loan offer that includes the interest rate, monthly payment, and repayment term.

In addition to student loans, Navient also offers loan consolidation services without any application or origination fees. This allows you to consolidate your federal student loans into a single monthly payment.

Considering Other Loan Options?

If you are not satisfied with the options offered by Navient Student Loans or do not meet their eligibility criteria, you can also explore Discover Student Loans.

Both Navient and Discover are reputable financial institutions that provide loans to help students finance their education. However, there are important differences between their loan offerings that you should consider before making a decision:

• Interest Rates: The interest rates for Navient student loans can vary based on the type of loan and your credit score. Discover offers both fixed and variable interest rates for their private student loans, which are also influenced by your creditworthiness.
• Repayment Options: Navient offers a wide range of repayment options, including income-driven plans, deferment, and forbearance. Discover also provides several repayment options, such as in-school deferment, interest-only payments, and full principal and interest payments.
• Loan Limits: Navient and Discover have different loan limits. Navient’s limits vary depending on the loan type and the student’s academic year, whereas Discover’s loan limits range from $1,000 to $200,000, depending on the program of study.
• Cosigner Release: Both Navient and Discover offer cosigner release options, but the requirements differ. Navient requires the borrower to make 12 consecutive on-time payments, while Discover requires 36 consecutive on-time payments.

While Navient stands out for its flexible repayment options, Discover may offer lower interest rates for certain borrowers. It is essential to consider your individual needs and preferences when deciding between the two lenders.

How to Apply for Discover Student Loans

If you are interested in applying for Discover Student Loans, refer to our article on how to apply for the company’s services.

Written by

Claire Harrison